ZenaTech Inc T.ZENA

Primary Symbol: ZENA

Technology Software - Application

ZenaTech, Inc. is a Canada-based technology company specializing in artificial intelligence (AI) drone solutions and enterprise SaaS solutions for mission-critical business applications. Its solutions include Drone Technology Solutions and Enterprise Software Solutions. Its drone technology solutions include ZenaDrone 1000 and ZenaDrone IQ. The ZenaDrone 1000 is a drone that combines software technology and custom hardware components, catering to diverse industries. The ZenaDrone IQ series is designed for indoor hovering with autonomous inspection and monitoring capabilities. Its ZenaDrone solutions are used for agriculture, defense, and logistics applications. Its enterprise software solutions are TillerStack, SystemView, WorkAware, PsPortals, Pace +, and ZigVoice. Its Enterprise Software solutions are used by customers in government, law enforcement, health, telecom and industrial sectors for a variety of compliance, safety, field service, and records management applications.

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ZenaTech Inc

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Post by SStoktikkon Oct 24, 2019 10:30am

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Post# 30264019

It gets even stupider

Zenabis believes the Rights Offering is in the best interest of existing shareholders for the following reasons:

Liquidity is an important resource given the current state of the Canadian cannabis market;
Although Zenabis does not currently need the proceeds from the Rights Offering to deliver on its revised business plan as released on October 21, 2019, the Company believes having excess cash on hand is in the best interest of shareholders;
Founding shareholders and insiders expressed strong interest in contributing over $6 million in incremental equity capital to the business, rather than being diluted by third-party capital;
A Rights Offering allows the participation of existing shareholders alongside insiders (reducing dilution when compared to an alternative form of capital raise which would prevent the participation of the full shareholder base); and
Zenabis believes this is the least dilutive manner to raise incremental capital given current market conditions (incremental equity is also preferable as a capital source compared to a debt alternative given the quantum of Zenabis' existing debt outstanding).